Acquisition of NHiS strengthens Wilmington’s presence in healthcare market

wilmington-logoWilmington Group plc, the provider of Information, Compliance, and Education to professional markets announces the acquisition of the entire issued and to be issued share capital of NHiS Limited for an initial cash consideration of £5.6m and a further deferred consideration of up to £3.75m subject to the Business achieving challenging targets for the growth in underlying profit. The deferred consideration will be satisfied by issuing of up to 1.5m new Wilmington Group plc shares in October 2016 dependent inter alia upon NHiS’s audited future earnings for the years ended 30th June 2015 and 30th June 2016. The number of new Wilmington Group plc shares to be issued in October 2016 will be determined by reference to the average of the closing mid market price on the preceding five business days. The Business was acquired with cash of £0.6m and the initial consideration will be financed out of the Group’s existing £65m debt facility.

NHiS has been in operation since 2007 and is a leading provider of business intelligence, data analysis, workflow tools and other services to pharmaceutical companies in the UK. Around 40% of its revenue is derived from subscriptions and the business has enjoyed high overall renewal rates as defined by customer spend in excess of 90%. Over 75% of NHiS revenue is delivered digitally.

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